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Business Acquisitions | 9 Months Ended
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Sep. 30, 2022
Business Combinations [Abstract] |
Business Acquisitions | 5. Business Acquisitions 2022 Acquisitions In the nine months ended September 30, 2022, we completed acquisitions to enhance our existing platform, technology, and workforce. The aggregate purchase consideration was $120.5 million, which included $17.7 million in cash, $44.0 million in shares of our Class A common stock, and $58.8 million recorded in other liabilities on our consolidated balance sheets. Of the aggregate purchase consideration, $69.3 million was allocated to goodwill and the remainder primarily to identifiable intangible assets. The goodwill amount represents synergies related to our existing platform expected to be realized from the business acquisitions and assembled workforces. Of the acquired goodwill and intangible assets, $101.7 million is deductible for tax purposes. 2021 Acquisitions Wave Optics In May 2021, we acquired Wave Optics Limited (“Wave Optics”), a display technology company that supplies light engines and diffractive waveguides for augmented reality displays. The total consideration was $541.8 million, of which $510.4 million represented purchase consideration and primarily consisted of 4.7 million shares of our Class A common stock with a fair value of $252.0 million, cash of $13.7 million, and a $238.4 million payable due no later than May 2023 in either cash, shares of our Class A common stock, or a combination of cash and shares of our Class A common stock, at our election. The remaining $31.4 million of total consideration transferred represented compensation for future employment services. The allocation of the total purchase consideration for this acquisition was as follows:
| Total |
| (in thousands) |
Trademarks | $ | 20,584 |
Technology |  | 77,118 |
Customer relationships |  | 32,708 |
Goodwill |  | 370,236 |
Net deferred tax liability |  | (3,313 | )
Other assets acquired and liabilities assumed, net |  | 13,111 |
Total | $ | 510,444 |
The goodwill amount represents synergies expected to be realized from the business combination and assembled workforce. The associated goodwill and intangible assets are not deductible for tax purposes. Fit Analytics In March 2021, we acquired Fit Analytics GmbH (“Fit Analytics”), a sizing technology company that powers solutions for retailers and brands, to grow our e-commerce and shopping offerings. The purchase consideration for Fit Analytics was $124.4 million, which primarily represented current and future cash consideration payments. The allocation of the total purchase consideration for this acquisition was as follows:
| Total |
| (in thousands) |
Trademarks | $ | 800 |
Technology |  | 17,000 |
Customer relationships |  | 17,000 |
Goodwill |  | 88,132 |
Net deferred tax liability |  | (5,643 | )
Other assets acquired and liabilities assumed, net |  | 7,160 |
Total | $ | 124,449 |
The goodwill amount represents synergies expected to be realized from this business combination and assembled workforce. The associated goodwill and intangible assets are not deductible for tax purposes. Other 2021 Acquisitions For the year ended December 31, 2021, we completed other acquisitions to enhance our existing platform, technology, and workforce. The aggregate purchase consideration was $266.1 million, which included $139.5 million in cash, $93.7 million in shares of our Class A common stock, and $32.9 million recorded in other liabilities on our consolidated balance sheets. The aggregate allocation of purchase consideration was as follows:
| Total |
| (in thousands) |
Technology | $ | 64,150 |
Customer relationships |  | 4,000 |
Goodwill |  | 203,482 |
Net deferred tax liability |  | (11,871 | )
Other assets acquired and liabilities assumed, net |  | 6,325 |
Total | $ | 266,086 |
The goodwill amount represents synergies related to our existing platform expected to be realized from the business acquisitions and assembled workforces. Of the acquired goodwill and intangible assets, $8.2 million is deductible for tax purposes.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4946-128472 + Details
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- References No definition available. + Details
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